WARWICK – A 60,000-square-foot warehouse building that contains a corrugated box and packaging supply company recently sold for $3.4 million, according to public records.
The 112 Telmore Road property was sold by Amalia Shevlin Fund LLC, a limited liability company based in Warwick, according to the warranty deed, a public record of the sale.
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The warehouse property was purchased by Piedmont EG II LLC, which is also a limited liability company based in Warwick, according to the warranty deed.
Amalia Shevlin Fund is managed by Brian Grimes, of Warwick, who is also the president of Grimes Box Co. – the company based at the facility that distributes and sells boxes, containers and other types of packaging. Grimes and Amalia Shevlin Fund have owned the property since 1994, according to Warwick’s online property tax evaluation database.
According to its website, the history of Grimes Box Co. goes back to 1931 when Joseph Grimes purchased a division of Atlas Plywood and renamed it, originally operating the company as a manufacturer of plywood boxes before it started to make corrugated boxes in the early 1950s. His son, Brian Grimes, has continued to operate the company for more than 40 years, according to the website.
Piedmont EG II is managed by Christopher Needham, who is the principal of Needham Development Cos., based in Cranston and specializing in commercial real estate investments.
The building was constructed in 1994. The one-story property contains a 2,000-square-foot office space, according to town property records. The building features a pre-finished metal exterior, a tin roof and an interior that includes finished concrete surfaces and walls made of drywall.
The building comes with 9.04 acres of land, according to town property records. That includes 2,000 square feet of paved asphalt.
The building and land were most recently valued this year by Warwick assessors to be worth $2.8 million, according to the town’s online property tax evaluation database. The land alone was valued to be worth $858,500.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X @Marc_La_Rock.
